Multi Strike oi compare

Multi strike oi is a powerful tool that professional traders use to track open interest data of different strikes simultaneously. This tool can be very useful in comparing strikes with falling or rising open interest. Oihelper also offers ability to track not just oi, but also change in oi and volume across different strikes of stocks and indices like Nifty and Banknifty.

What is Multi Strike OI?

Multi Strike OI analysis can be used to track open interest values across different strike prices in an options chain. Open interest shows the total number of outstanding contracts for a specific strike price, indicating trader participation and market sentiment. By analyzing OI changes at multiple strikes, traders can identify key support/resistance levels. Multi strike oi tool also allows users to spot accumulation or distribution of positions, which is helpful to gauge market breakouts.

Lets understand this with an example. If the Nifty 23,500 CE shows a sudden spike in OI, it might mean that traders are expecting the index to rise above 23500. Conversely, while studying multi strike oi, if the chart shows high open interest at 23500 PE it might mean possible fear of price fall in the market.

How to Use the Multi Strike OI Tool effectively.

• Step 1: Select the underlying asset from symbol dropdown. Choose the index (e.g., Nifty, BankNifty) or stock you want to analyze. Oihelper's multistrike oi tool as data for all Nifty 50 stocks and major indices.
• Step 2: Select the expiry date. From the expiry-date menu button, select the date for which you want to check data. The tool has both weekly and monthly expiries.
• Step 3: Choose option type and data type. Oihelper's multi strike oi allows users to select the type of data (open interest, change in oi or volume). Select the data type and type of option - Calls, Puts or both.
• Step 4: Select the strikes. Choose which strikes you want to compare. You can press (Alt + k) on desktop to quickly open the strike selector drop down. Choose upto 20 different strikes at once.
• Step 5: Load the data for multiple strikes. Press Ctrl + Enter to load the chart or simply click the 'update chart' button to display the chart.

Practical Examples and Use Cases

Example 1: Identifying Support/Resistance

Suppose BankNifty is trading near 50,000, and you notice:

• High OI at 50,000 puts (support)
• Rising OI at 50,500 calls (resistance).

This shows that traders expect the index to bounce from 50,000 but struggle to breach 50,500. You might buy a 50,000 put as a hedge or sell a 50,500 call to capitalize on the resistance.

Example 2: Spotting Breakouts

If Nifty consolidates around 23,400–23,600 and OI suddenly spikes at 23,800 calls, it signals bullish momentum. Traders could buy ATM calls or implement a bull call spread (buying 23,600 calls + selling 23,800 calls).

Example 3: Hedging with Multi Strike OI

A portfolio manager holding Nifty stocks monitors OI at 23,200 puts. Seeing OI double, they buy put options to protect against a potential crash.

Benefits of Multiple Strike OI Analysis

• 1. Real-Time Market Sentiment: Track where smart money is flowing
• 2. Risk Management: Identify overcrowded strikes to avoid liquidity traps.
• 3. Strategy Optimization: Combine with technical analysis for higher accuracy.
• 4. Cost-Efficiency: Avoid overtrading by focusing on high-probability strikes.

By understanding how to use the Multi Strike OI tool correctly, you can decode market psychology, anticipate trends, and refine your strategies. Whether you’re scalping intraday or hedging long-term portfolios, integrating OI analysis with price action will give you an edge in the volatile derivatives market.